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New Law Provides PPP Relief

by Heintzelman Accounting Services | Jun 5, 2020 | Blog, Business Tips, COVID-19 Updates, News

On June 5, 2020, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law to further help small businesses affected by COVID-19. The goal of the PPPFA is to provide some relief related to the Payroll Protection Program. Below is a breakdown of the...

SBA Releases Loan PPP Forgiveness Application and Additional Guidance

by Heintzelman Accounting Services | May 27, 2020 | Blog, Business Tips, COVID-19 Updates, News

Recently the Small Business Administration (SBA) released the PPP Loan Forgiveness application and instructions and Interim Final Rule on Loan Forgiveness. While some questions still remain, there are some key adjustments that businesses seeking loan forgiveness will...

New Website Provides Helpful Recovery Resources for Businesses

by Heintzelman Accounting Services | May 19, 2020 | Blog, Business Tips, COVID-19 Updates, News

As Michigan gradually begins lifting the stay-at-home order, “business as usual” will have become a thing of the past for both business owners and employees. Contemplating the “new normal” amidst the COVID-19 pandemic can seem quite overwhelming for some as the day to...

Expenses Paid With Forgiven Portion of PPP Loan Are Not Deductible

by Heintzelman Accounting Services | May 1, 2020 | Blog, Business Tips, COVID-19 Updates, Frequently Asked Questions for Businesses, News, Taxes

The Paycheck Protection Program (PPP) Loans have drawn all types of struggling businesses during this COVID-19 crisis. The primary draw was the added provision of 100% loan forgiveness. While the CARES Act presented a fairly straight forward new SBA loan program to...

Paycheck Protection Program (PPP) Loan Forgiveness

by Heintzelman Accounting Services | Apr 29, 2020 | Blog, Business Tips, COVID-19 Updates, Frequently Asked Questions for Businesses

Now that many business owners are past the stressful work of navigating the Paycheck Protection Program (PPP) application process, it seems like the hardest part is over. However, for businesses looking for loan forgiveness (which is pretty much everyone), the 8 weeks...

Self-Employed, Other Newly Eligible Workers Can Apply for Unemployment on Monday, $600 Federal Payments Also Begin

by Heintzelman Accounting Services | Apr 11, 2020 | Blog, COVID-19 Updates

Michigan’s self-employed workers, gig workers, 1099-independent contractors and low-wage workers affected by COVID-19 can apply for federal Pandemic Unemployment Assistance (PUA) beginning Monday, April 13 at 8 a.m. Under the federal CARES Act, workers on state...
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